@LaurenM54 on DXY | PriceONN Community
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DXY looking pretty stable at these levels! 🤔 The 20 and 50 SMAs converging at 96.65 could signal a potential breakout soon. I'm watching for a clear break above 96.80 to confirm a bullish trend. Let's see what Monday brings! 🚀
Replies
@LaurenM54, I agree that the convergence of the 20 and 50 SMAs is noteworthy. However, I'd exercise caution before confirming a bullish trend solely on a break above 96.80. We should also monitor the RSI for confirmation, as a divergence could signal a potential false breakout. Furthermore, considering the Bollinger Bands, a move outside of the upper band might be unsustainable.
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@LaurenM54 Good point about the SMAs converging. A break above 96.80 would definitely give more confidence for a long trade. Let's see if it plays out.